Today’s tidbit: let me answer the question that I get asked most often by clients or potential clients: “How much are your broker agent fees for your services?”
Well, there is no fee for my services! To have a licensed agent, who can review what coverages might be good for you – there are no fees involved in that.
A common misconception that I hear often, is the only way to save on broker fees is to not go with an agent.
It doesn’t save you any money if you don’t use an agent. A lot of people have the misconception that if they just go directly to the Marketplace and talk to them, then the rate will be cheaper. But this is not the case. The same pricing is the same pricing. But, with a licensed agent, you have the advantage of having help from someone that knows the different plans, and that will ask you questions about what your needs are. Often, that can save you money as the agent can advise you on the plan that you actually need and will use.
Another benefit of having an agent is that we know the industry. We know what you can expect to pay for doctor’s appointments, surgeries, and medications. I also ask you questions about your unique situation regarding what health concerns you’ve got going on because I want to try to find the best plan for you. Would you rather pay $40 more a month in premium and then pay a whole lot less out of pocket if you know you have an upcoming surgery or procedure that needs to happen? As opposed to a cheaper plan with a high deductible costing you a lot out of pocket?
As an agent, I am able to help and advise you on the details of your plan. I had a gentleman call me recently that didn’t quite understand his insurance plan. He said he was being quoted $6500 for surgery. Upon looking at his plan, I noted that he had a zero deductible plan. This meant that all he would pay is the copay. It worked out that the copy was $1000 for the facility, $300 for the doctor, and $300 for a different doctor, meaning that the most he should pay out of pocket are $1600 for that surgery. By having me as his agent, I was able to explain the ins and outs of his plan and let him know what he can expect to be billed.
It does take time to answer these questions regarding your situation. If you feel like you don’t have the time to talk with me about all these details and questions, you can just request a link from me. I’m happy to send you my link. You can use it to go in and shop and pick the plan you want. You never even have to speak to me if you don’t want to. Because you know what you need, you know how to do it, great. But there are advantages to using my link in your application. The application will track to me, and I’m your agent of record. If for some reason in the future you can’t log in, or can’t get your ID card, or have a coverage question, instead of calling your insurance company and being on hold for ages, you can call me or email me. I’m able to help if I’m your agent of record. And again, it doesn’t cost you anything to do that. It’s just an advantage to you that you have someone in your corner because if you end up getting a bill that you don’t think you should have, you’re probably not going to get it resolved by calling your big-name insurance company. And I can help by looking at it and noting that possibly it was billed wrong, the insurance should have paid, and we can appeal/negotiate.
Having an insurance agent is very important. There’s no cost to you to have help from someone that has the expertise and the knowledge of all the different plans that are available out there, whether it be the marketplace, private PPO plans, or even an employer plan. Some people don’t even understand their employer’s plan. I am able to work with employers and put plans in place for them. I can also help you with supplemental coverage. Let’s say that you have an employer plan and you’re looking to get some gap-filling coverage (supplemental coverage), then I’m always happy to review what you have. I can explain where those gaps are, and I know which coverages might work best for you in your situation.
My goal is to save you money, not charge you broker fees! Reach out to me today for more information.